Redeveloper Covenants Sample Clauses
Redeveloper Covenants. In addition to, but not limited by, any and all other covenants and agreements of the Redeveloper contained in this Agreement, the Redeveloper hereby covenants and agrees to the following (collectively, “Redeveloper Covenants”):
(a) The Redeveloper shall proceed with continuity of purpose and shall use diligent efforts to obtain all Government Approvals necessary for the construction and development of the Project Improvements. The Redeveloper shall construct, improve, operate and maintain the Project Improvements in compliance with all Governmental Approvals, and other laws, ordinances, approvals, rules, regulations and requirements applicable thereto including, but not limited to, such zoning, sanitary, pollution and other environmental safety ordinances, laws and such rules and regulations thereunder as shall be binding upon the Redeveloper under Applicable Laws.
(b) The Redeveloper shall (i) use diligent efforts to obtain Third Party Financing, if necessary, for the Project Improvements, and (ii) subject to the receipt of such Third Party Financing, shall begin and complete construction of the Project and the Project Improvements in accordance with the Project Schedule. All activities performed under this Agreement shall be performed in a good and workmanlike manner. For purposes of this Agreement, Third Party Financing (“Third Party Financing”) shall mean financing available from a third party on commercially reasonable terms and providing the Redeveloper a commercially acceptable return on the Project.
(c) The Redeveloper shall construct the Project Improvements substantially in accordance with this Agreement, the Redevelopment Law, the Redevelopment Plan, the Governmental Approvals and all other Applicable Law.
(d) The Redeveloper shall complete the Project Improvements, or cause same to be Completed, in accordance with the Project Schedule at its sole cost and expense.
(e) The Redeveloper shall not discriminate against or segregate any Person, or group of Persons, on account of race, color, religion, creed, national origin, ancestry, physical handicap, age, marital status, sex or affectional preference in the sale, lease, sublease, transfer, use, occupancy, tenure or enjoyment of the Project Improvements, nor shall the Redeveloper establish or permit any such practice or practices of discrimination or segregation with reference to the selection, location, number, use of occupancy of tenants, lessees, subtenants, sublessees, or vendees of the Projec...
Redeveloper Covenants. Subject to Section 6.07 below and Redeveloper acquiring title to the Project Area, and in addition to covenants set forth elsewhere herein, the Redeveloper covenants and agrees that the following covenants shall be effective until the termination or expiration of the Redevelopment Agreement, but shall not survive such termination or expiration (collectively, “Redeveloper Covenants”): The Redeveloper shall use reasonable diligent efforts to obtain all Applicable Government Approvals necessary for the construction and development of the Redevelopment Project. To the extent Uncontrollable Circumstances exist that in Redeveloper's reasonable business judgment would cause delay in securing all Governmental Approvals, Redeveloper may toll prosecution of any Governmental Approvals until the Uncontrollable Circumstance has been resolved. The Redeveloper shall construct, improve, operate and maintain the Redevelopment Project in compliance with all Governmental Approvals, and Applicable Law. The Redeveloper shall use reasonable diligent efforts to (i) obtain financing for the Redevelopment Project, (ii) construct and develop the Redevelopment Project with reasonable due diligence, and (iii) subject to the terms and conditions of this Redevelopment Agreement, use reasonable efforts to Commence Construction of and Complete construction of the Redevelopment Project in accordance with the Redevelopment Project Schedule, on or prior to the applicable date set forth in the Redevelopment Project Schedule or any extensions thereof (and for those items for which commencement dates only are given, such items shall be completed in a commercially- reasonable period). All activities performed under this Redevelopment Agreement shall be performed in accordance with the level of skill and care ordinarily exercised by reputable developers of similar developments of the character, scope and composition of the Redevelopment Project. The Redeveloper shall construct, or cause same to be constructed, the Redevelopment Project in accordance with the material terms of this Redevelopment Agreement, the Redevelopment Law, the Redevelopment Plan, and all other Applicable Laws. The Redeveloper and the Agency acknowledge that each Party has relied on the proposed Redevelopment Project Schedule in entering into its obligations under this Redevelopment Agreement. The Redeveloper shall use reasonable efforts to fulfill its material obligations under any and all agreements it enters into with thi...
Redeveloper Covenants. As to Transfers, the Redeveloper covenants and agrees that:
(a) Except for Permitted Transfers, prior to the issuance of a Certificate of Completion(s) the Redeveloper shall not, without the prior written consent of the Borough, which consent shall not be unreasonably withheld, conditioned or delayed: (i) effect or permit any change, directly or indirectly, in the Control of the Redeveloper, (ii) assign or attempt to assign this Agreement or any rights herein or in the Project Area or its interest in the Project Improvements, or (iii) make any total or partial sale, lease, transfer or conveyance of the whole or any part of its interest in the Project Area or its interest in the Project Improvements (collectively a “Transfer”), provided, however, that these restrictions shall not apply as to any portion of the Project Area pursuant to which a Certificate(s) of Completion has been issued.
(b) The following Transfers are exceptions to the prohibition set forth in the previous subparagraph and, such Transfers shall not require prior approval by the Borough (“Permitted Transfer”), the written consent of the Borough to such transactions being deemed given hereby provided written notice of same is given to the Borough: (i) a mortgage or mortgages on the Project Area and Redeveloper's interest in the Project Improvements for the purposes of financing the costs associated with, or incurred in connection with, the acquisition of the Project Area and the development and construction of the Project Improvements; (ii) utility and other development easements; (iii) an assignment and/or Transfer of all or part of the Redeveloper's interest in this Agreement and/or the Project Area, or any portion thereof, to an Affiliate or other entity which is Controlled by ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇; (iv) any contract, agreement or assignment with respect to any of the foregoing transactions; (v) any lease, option agreement or contract of sale for all or any portion of the Project Area and/or Project Improvements with occupancy or closing to occur following issuance of a Certificate of Occupancy or a Certificate of Completion therefore; (vi) the filing of a master deed for the purpose of subjecting the Project Area to the condominium form of ownership, and/or (vii) an assignment and/or Transfer of any portion of the Redeveloper's interest in this Agreement and/or the Project Area to an entity which is, or whose Affiliate is, either (1) a publicly traded company in the business of construction of...
Redeveloper Covenants. In addition to, but not limited by, any and all other covenants and agreements of the Redeveloper contained in this Redevelopment Agreement, the Redeveloper hereby covenants and agrees to the following for the purpose of inducing the Authority and the County to enter into this Redevelopment Agreement and to consummate the transactions contemplated hereby (collectively, “Redeveloper Covenants”):
(a) The Redeveloper shall use diligent efforts to obtain all Government Approvals necessary for the construction and development of the Project Improvements. The Redeveloper shall construct the Project Improvements in compliance with all Governmental Approvals, and Applicable Law including, but not limited to, such zoning, sanitary, pollution and other environmental safety ordinances, laws and such rules and regulations thereunder as shall be binding upon the Redeveloper. The Redeveloper shall provide evidence reasonably satisfactory to the Authority and County that the Project Improvements are in compliance with all applicable State and Federal environmental statutes and regulations.
(b) The Redeveloper shall construct the Project Improvements in accordance with this Redevelopment Agreement, the Project Schedule, the Redevelopment Law, the Redevelopment Plan, the Site Plan, the Plans and all other Applicable Law. The Redeveloper acknowledges that the Authority and the County have relied on the proposed Project Schedule, along with its rights to review and approve of the Site Plan and the Plans, in entering into its obligations under this Redevelopment Agreement.
Redeveloper Covenants. The Redeveloper covenants and --------------------- agrees that:
(a) The Redeveloper shall not use the Project Site, or any part thereof in a manner that is not consistent with the Redevelopment Plan and this Agreement. The Redeveloper will construct only those uses established in the Redevelopment Plan or as the Redevelopment Plan may be modified, in writing, by PARA from time to time in accordance with the Act.
(b) The Redeveloper shall commence construction of the Project Improvements on the dates set forth in the Project Schedule and shall implement and complete the Project in accordance with conditions and requirements of this Agreement, the Redevelopment Plan and the Act.
(c) The Redeveloper shall not, without the prior written consent of PARA: (i) effect or permit any change, directly or indirectly, in the majority ownership or control of the Redeveloper, provided, however, that such consent shall not be required as a result of the redeveloper's refinancing, recapitalization or sale and purchase of its stock in the ordinary course of business; (ii) assign or attempt to assign this Agreement or any rights herein or in the Project Site, or (iii) make any total or partial sale, lease, transfer or conveyance of the whole or any part of its interest in the Project Site or the Project (collectively a "Transfer").
(d) The Redeveloper shall not use the Project Site, or any part thereof, as collateral for an unrelated transaction.
Redeveloper Covenants. Redeveloper covenants and agrees that:
(a) Redeveloper shall make good faith, commercially reasonable efforts to design, construct, and operate the Project, in compliance with the terms and provisions of the Redevelopment Plan, as same may be amended from time to time, Governmental Approvals, Applicable Laws and this Redevelopment Agreement in all material respects, provided nothing herein shall be interpreted to preclude Redeveloper from seeking any variance, deviation or waiver in connection with any site plan approval or other relief which may be sought in connection with Governmental Approvals and Applicable Laws.
(b) Redeveloper shall not use the Property, Project Improvements, or any part thereof in a manner that is materially inconsistent with the Redevelopment Plan, as same may be amended.
(c) Redeveloper shall not discriminate against any person, or group of persons, on the basis of age, race, color, religion, creed, national origin, ancestry, physical handicap, familial status, gender, sex, or sexual orientation in the sale, lease, sublease, rental, transfer, use, or occupancy of any Property in the Redevelopment Area, or any part thereof.
(d) Redeveloper shall not employ, hire or otherwise involve in the Project any Person that Redeveloper knows has previously been disbarred, suspended or otherwise ruled unable to participate in the process of bidding for and being awarded public contracts; the City agrees to supply a list of any such persons of which it has knowledge.